1995 - 11-20-95 Regular Meeting - Laserfiche WebLink

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® 0 044 600 16 w i 271 secured by a pledge of the faith and credit of the Lee County Water and Sewer District No. 1 to pay capital costs of providing water storage, treatment and distribution facilities within and without the District, including the acquisition and installation of water storage tanks, a treatment plant and distribution lines, and including the acquisition and installation of necessary machinery and equipment and the acquisition of land or rights-in-land required therefor, and a tax to be levied for the payment thereof, be approved?," was 633. The total number of voters who voted "NO" in answer to such question was 190. The question in the form submitted was approved by the affirmative vote of a majority of these who voted thereon at said election. Any action or proceeding challenging the regularity or validity of this bond referendum must be begun within 30 days after November 24, 1995 (date of publication). Board of Commissioners of the County of Lee, sitting as governing body of the Lee County Water and Sewer District No. 1, North Carolina Commissioner Matthews seconded the motion, and the motion was adopted by the following vote: Aye: Cox, Dossenbach, Garner, Matthews and Reives Nay: None The Chairman ruled the motion had been adopted unanimously. The Board considered a letter of conditions and obligation documents. Mr. Jackie McLamb from the Rural Development Corporation explained the obligation documents to the Board and answered questions. Commissioner Cox moved to approve the following: BE IT RESOLVED: That the Lee County Water and Sewer District Board of Commissioners accepts the conditions set forth in the Letter of Conditions dated November 20, 1995, and the FmHA Form 1942-47 "Loan Resolution": That the District Board approved as shown on Form FmHA 442-7 "Operating Budget", the proposed budget: That the Chairman and Clerk be authorized to execute all forms necessary to obtain a loan from the Rural Utility Service, including, but not limited to the following forms: Form FmHA 1942-47 Loan Resolution 3